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GAC008 Assessment Event 4: Academy Research Essay Spending on Education of Government Student`s Name: Jeongwan Kim Student ID#: HUK21832 Teacher: Jooyong Choi Due Date: 15 July 2012 World count: 1033 GAC008 AE#4 Jeongwan Kim HUK21832 Topic: “Government spending on education is an investment in human potential that enhances the country`s future: Do you agree with this statement? Write an essay persuading readers of your point of view. Support your arguments with evidence from appropriate sources. Every nation spends on education for the country`s future. The government spends money on education, to assert that it can promote potential for country`s future. As potential of citizen is enhanced, nation`s competition can be promoted for future. There is a hot controversy whether it is wise or not. However, government must to invest education for enhancing the country`s future. There are correlations between the citizen`s potential and nation`s competitiveness, so educating citizen can enhances not only human potential nut also the country`s future. The advantages proving that is a wise choice to spend on education is presented by providing results of nation`s GDP, backing loan money of school, and supporting cognitive skills about economy. First of all, spending on education can enhance country`s GDP. When the average of investment on education in nation was increased compared to before, economic growth rate has increased GDP 2 to 3 percent, government must spend on education as the correlation between education and GDP is recognized. If there are correlation in education with economy, government should invest to education for country`s future, as Hanushek`s stating that there are correlation between spending on education and economy growth. Education score of country also very important, as test scores in nation continue to improve; economic growth is also higher and higher in chart. In country, test score and economic growth is correlated with nation`s GDP. When researchers performed this analysis, they found, as other economists before us, that when the average number of years is a boost to annual growth rates of more than 10 percent of what would otherwise have occurred (Hanushek 67) it is a significant amount, so there are no reasons to disagree because of examples shown in the correlation. As the government invests on education for human potential, it is not only people`s test scores improving but also the nation`s GDP as well. For example, China invests much money on education for the nation`s future, so the government wants to develop the country by investing in people`s potential to enhance level of 16/07/2012 page 1 GAC008 AE#4 Jeongwan Kim HUK21832 international competence, their GDP increased from 4 to 5% (Rasouli 2012). Countries with higher test scores experienced higher economy growth rates such as Korea, USA, and United Kingdom. Increasing GDP is a positive sign to countries; assertion of disagreement cannot persuade everyone as presenting evidences of increasing country`s GDP. As government spends on education, human potential and the country`s future is also improved. Evidences of improvement is change the nation`s GDP, so spending on education can enhances human potential and the country`s future. As government spends on education, loan money for student can also be increased. Perhaps most importantly, loan programs have contributed to the tuition price regulation. Relationship between spending on education and school has positive effect. The government`s loan program can decrease debt of students as provide low interest. The government can provide students to long period loan with low interest such as 10 or 20 years, students can have a job during this time. For example, poor students cannot help borrowing money for entering University. As the government invest to loan money, education loan for poor students enables them to restart their life by taking further education, and income-based plan can even get your payments down to zero if you're poor (Weston). As government invests loans for education, many students can have opportunities go to a university. The giving opportunities for students can enhance human`s potential for country`s future. The more people have highest education, the more increased future possibility of country. The purpose of the government is not shifting debt to students but providing opportunities for their future. Therefore, the government must to support loan money for providing opportunities of education to students for future. As a country invests on education, people`s cognitive skills about economy increases. Cognitive skill is professional word which is mental skills used in the process of acquiring knowledge such as these skills including intuition, perception, or reasoning. For country`s future, cognitive skills of people is so important thing. As spending on education is increased in nation, cognitive skills about economy also higher than other countries, it is also correlated to a nation`s economic growth. Like this, 16/07/2012 page 2 GAC008 AE#4 Jeongwan Kim HUK21832 education can promote to economy, for example of higher education, investment in education in Asia between 1965 and 1990 also grew faster than in any other region in the world. To achieve good negotiation, a country must support education to recognize this. Effective collaboration requires both the cognitive abilities fostered by formal education and a range of general and interpersonal abilities (Williams 512), cognitive ability can fosters drawing wise negotiations, whenever people face difficult situations. People who have cognitive skills about economy can be more knowledgeable about society. spending on education can enhance cognitive skills and a country`s future. Higher education can be to the key to the continuing growth of national economies. As nation`s people have high cognitive skills about economy, the country`s future is also enhanced. Spending on education can make many of results as foster people`s potential. Therefore, spending on education of government is so wise for human potential and country`s future. In summary, the assertion of government can produce good results, as spending on education can enhance potential of human and country`s future, change of GDP, supporting loan, and increasing cognitive skills are clearly positive sign for nation. GDP reflect country`s possibility of future, and loans also can support many of opportunities for students for the country`s future. High level of cognitive skills can foster country`s development. There is a clear correlation between spending on education and economic growth. It can be stated that education scores soars higher in a country, economic growth is also increases, so spending on education can enhances the potential of people for future. As investment of government can enhance future possibility of country, and also make a bright future for the nation. Therefore the government must to invest field of education for future as supporting people`s potential for future, even though there are opinions of disagreement. 16/07/2012 page 3 GAC008 AE#4 Jeongwan Kim HUK21832 References Richard, Vedder, “Education watch international.” Edwatch. 27 June 2012, Web, 7 July 2012. 16/07/2012 page 4 GAC008 AE#4 Jeongwan Kim HUK21832 Li, Hongbing, “China raises education spending, but more needs to be done.” Xinhuanet. 13 Mar 2012, Web, 7 July 2012. Zahra, Rasouli, “Economic Growth and Gender Inequality in India.” Buddhasemptyplace. 5 June 2012, Web, 7 July 2012 Eric A, Hanushek, “It`s not just going to school, but learning.” Education and Economic Growth 6.2 (2008): 62-70. Web. 20 Feb 2008 Elizabeth St. George, “Positioning higher education for the knowledge based economy.” Higher Education 52.4 (2012): 589-610. JSTOR. Web. 8 July 2012. Peter John Williams, “Valid knowledge: the economy and the academy.” Higher Education 54.4 (2007): 511-523. JSTOR. Web. 8 July 2012. 16/07/2012 page 5